Have been reading through the whole thread, seems abit quiet here now, maybe is because of the holiday seasons. Hope the new year will bring great profit for ppl trading using FSP.
Wish all a great year ahead!
Wish all a great year ahead!

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DislikedI stopped taking the trades on the weekly time frame due to the poor performance. I will look into trading on the daily time frame as someone has already mentioned doing in this thread.
If weekly FSP expectancy is still positive, then great; however, I was not convinced.Ignored
DislikedHello,
I'm still trading FSP and ONS through the drawdown. I've been adding money to my account during the drawdown which has masked it a bit. However my backtests indicate being in a 40-50% or so drawdown.
When you get a number of weeks of all 5 currencies getting stopped out, it can certainly be difficult! However, I do seem to have got used to it in a perverse way.
When the trends come...
Cheers,
TimekIgnored
DislikedHow many losses did you get in a row on the weekly? I know Joel has said previously he has had over 15 straight losses and he just has to trade through it until the winners start coming - must be hard though!Ignored
DislikedI didn't record trade-by-trade, but I did keep a week/week record (attached). It stops when I stopped. It might not be so bad if these were multiple trades/day, but given the long time frame, I couldn't see myself supporting myself through trading this method alone (which is the important part for me right now at least).
Net asset value is lower than balance due to an open losing silver position at the time, which I later exited at break even.Ignored
Dislikeddo you realize how many traders would kill for an equity curve like that........1 year of trading on 5 pairs............so about 250 trades........and you still have an account leftIgnored
DislikedHeres is something that I dont "get"
FSP/ONS is a type of breakout and trend following system right?
(Since it needs a strong trend early in the week and rides that momentum)
Is this assumption correct?
So the markets have been on steroids the past year and its still been a pretty much flat year, even with all the big moves up and down, but its has still been meandering and stuck in drawdowns. I think some sort of dynamic position sizing like that deals with drawdowns probably helps the prolonged drawdown periods, but I am losing my patience...Ignored
DislikedFor the investement of time each week - about 20 minutes.....I pretty much set it and forget it every week at 1 am est. No I wont retire on this account in 5 years, but it may pay for a car or vacationIgnored
DislikedFSP does not backtest well on the last 5 years of data for any of the currency pairs. At best it is a break even system. I have done the code on TS. People who trade without backtesting first are nuts!Ignored
DislikedHere is a visual reperesentation of FirstStrike....
It is coded exactly per FirstStrikeplus rules in pdf!
The blue and red lines are buy and sell, while red lines are SL for them.
RegardsIgnored
DislikedHi all.
I posted some results of my own backtests in this same thread some months ago.
I am still trading my personal modifications of this method, on both weekly and daily timeframes, 5 pairs.
I am facing a drawdown especially on EUR/USD, but the not good results are mitigated by the results on the other pairs.
Of course I'm going to keep on putting orders.Ignored